Turkey’s Soyut mulls unit IPO, invests in Malaysia

Turkey’s Soyut Group, which has interests in energy, construction and finance, may apply to regulators in November to list shares in its investment unit, a company official said on Wednesday.

The investment unit will own shares in all Soyut Group companies, Ali Colak, a member of the Soyut Enerji board, told Reuters in an interview. Ankara-based Soyut Group had revenues of 65 million lira in 2010, he added.

Colak also said Soyut Enerji, a wind turbine maker, and Malaysia’s Melewar Industrial Group plan an initial investment of 30 million euros in a production plant.

The turbine factory will be built in Malaysia and have capacity to produce 40 megawatts annually, Colak said.